Short Term Analysis – September 1, 2006

GBPUSD

20060901_gbpusd_1.gifGBPUSD is in up trend. Further rise towards 1.9142 previous high is possible in the next several days. Near term support is the bottom of the price channel, and the key support is at 1.8897, only break below the key support can signal the reversal to the up trend.

USDCHF

20060901_usdchf_1.gifUSDCHF is in down trend, the rebound from 1.2226 is treated as correction to the down trend, and further fall below 1.2226 towards 1.2182 is possible after this correction. Key resistance is at 1.2376, as long as this resistance holds, down trend will continue.

USDJPY

20060901_usdjpy_1.gifUSDJPY stays in the price channel and is moving up towards 117.87 previous high. Near term support is the bottom of the price channel and the key support is still at 116.50, only break below the key support may signal the reversal to the up trend.

EURUSD

20060901_eurusd_1.gifEURUSD is in up trend, the fall from 1.2878 is treated as correction to the up trend, and further rise above 1.2878 towards 1.2937 is possible in the next several days. Key support is at 1.2750, only break below this level may signal the reversal to the up trend.

AUDUSD

20060901_audusd_1.gifAUDUSD is in up trend. Further rise towards 0.7668 previous high is possible later today. key support is at 0.7597, and as long as this key support holds, up trend will continue.

USDCAD

20060901_usdcad_1.gifKey support at 1.1048 is broken below, USDCAD’s down trend resumes and further fall towards 1.1000 is possible in the next several days. Key resistance is at 1.1126, break above this level may signal the reversal to the down trend.